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News / Prediction: Tesla Will Eventually Dive Head-First into Bitcoin
« Last post by BlackJack on Today at 12:12:48 PM »
In a rare comment from Elon Musk on cryptocurrency, the Tesla and SpaceX founder said that Bitcoin “is quite brilliant.”

He continued:
“Paper money is going away and crypto is a far better way to transfer value than pieces of paper, that’s for sure, but it has its pros and cons.”
Musk also gave Ethereum props on the ARK Investment podcast Tuesday (listen here):
“There seems like there is some merit to Ethereum as well.”

It’s a strong endorsement of cryptocurrency and Bitcoin coming from Silicon Valley wunderkind Elon Musk, the billionaire engineer/entrepreneur who made a major play in digital payments when he merged his online banking services startup X.com with Peter Thiel’s outfit a few blocks away to form PayPal.

But despite his high praise for Bitcoin and his belief in the inevitability of cryptocurrency becoming the dominant financial infrastructure for the world, Musk says he won’t be getting Tesla Motors involved in the space:
“But I’m not sure that it would be a good use of Tesla’s resources to get involved in crypto.”
Of course, Bitcoin and cryptocurrency aren’t anything that should be taking up any of Musk’s time. He’s got his hands full working an average of 42 hours a week at Tesla and 40 hours a week at SpaceX. He would know – he organizes his day  into 5-minute slots.

Tesla is a car company, and SpaceX is an aerospace tech company. They are both very special companies, the only companies in the world that do exactly what they do on the scale they do it. The opportunity to reap years of massive monopoly profits once they reach scale is their most lucrative opportunity and they should remain focused on that.

And Tesla isn’t close to profitable yet, and SpaceX isn’t really profitable either. They have some years of daily battles ahead of them to reach that pinnacle in their own domain.

By contrast, old guard tech titans like Microsoft and Google, who’ve had many years to sit back and reap those kinds of profits, have more than enough extra skin to put in the game, and they are quite smartly diving into the cryptocurrency industry, at least indirectly.

Microsoft’s cloud services will be supporting the New York Stock Exchange’s upcoming Bakkt cryptocurrency exchange, and Google has been, along with Goldman Sachs, one of the  biggest corporate investors in cryptocurrency industry firms.

The day Musk made his comments about crypto, Bitcoin, and Ethereum, Google became the first tech giant to add the Bitcoin symbol to the keyboard for its iOS apps.


Although it may be many years before Tesla has a good enough grip on its current business to make a serious foray into cryptocurrency, it seems likely to me because of Tesla’s specialty in electric batteries and ultracapacitors.

This will create many opportunities for Tesla to get involved in Proof of Work cryptocurrencies like Bitcoin, because of the very close relationship between the PoW coins and electricity, along the lines of this Reddit user’s comment on the Bitcoin subreddit 2 years ago:
“This is the future of bitcoin. Ability to convert unused electricity to money, and if needed that money can then be used to buy back electricity.”


One can easily imagine Tesla and other similar high tech energy companies decentralizing the electricity grid. Instead of a centralized power grid with every end user drawing electricity from a central source of mass-produced energy, imagine a decentralized, peer to peer network of electricity production.

Each building that generates and stores its own power from solar (say from Tesla Solar Roof Tiles or  Tesla Power Walls) is a full node on this power grid of the near future.

And Bitcoin or another PoW cryptocurrency mediates a sharing economy of electricity among nodes on this network in the fashion described above. It reminds me of how some hydroelectric dams store excess electricity by using it to pump water back uphill, and let the water fall when they want to convert the potential energy back to electricity.

Human civilization is about to produce an epoch-setting tidal wave of affordable, clean, renewable energy. And Elon Musk is leading the charge. Bitcoin can help us get every last bit of value out of all that electricity, with no watt left behind.

So will Elon Musk go full crypto? It’s only a matter of time.

Source: https://www.ccn.com/prediction-tesla-will-eventually-dive-head-first-into-bitcoin

Mark Zuckerberg, CEO of Facebook told that he is seriously considering to merge blockchain technology into his social network.

Mark Zuckerberg, CEO of Facebook, in his interview with a professor of Harvard Law, Jonathan Zittrain told that he is seriously considering to merge blockchain technology into his social network. Zuckerberg also said that he is likely interested in incorporating the Facebook login with the blockchain.
He is interested in combining blockchain technology into Facebook login because it can be used to enable users to control their data. According to the Facebook CEO,  blockchain could replace Facebook connect which will help the users by controlling their and privacy.
Altcoins Discussion / King Crypto, Bitcoin remains dominant
« Last post by BlackJack on February 21, 2019, 02:30:32 PM »
There are thousands of coins and tokens that existed and were created until now. Project for making coins and tokens with modern quality and technology. but, the interesting thing I see is how bitcoin can dominate the market and remains the choice of investors and users.
Altcoins Discussion / Real increase? crypto recover and increase?
« Last post by BlackJack on February 21, 2019, 02:24:31 PM »
I don't know whether this is a real or fake price increase, whales play or people are affected by ETF news that until now has not provided an official statement about the results and future of crypto. is it a good time to buy crypto right now?
Altcoins Discussion / Claymore’s ZCash/BTG AMD GPU Miner v12.6 (Windows/Linux)
« Last post by Kourse on February 19, 2019, 11:49:30 AM »
Claymore’s ZCash/BTG AMD GPU Miner.

Latest version v12.6:

added Vega cards support (ASM mode).
added ASM mode for RX460/560 cards (+20% speed).
new GPU sorting method for AMD cards. Now GPUs are sorted by physical bus index (it matches AfterBurner list of GPUs). Also the list of temperatures/fans matches the list of GPUs automatically. Therefore “-di detect” and “-gmap” options are not necessary and not supported anymore. WARNING: be careful if you use use separate overclock/temperature settings for every card, due to new sorting method GPUs can get different indexes!
added fan/OC support for 17.7.2 (and higher) drivers.
improved support for systems with more than 10 GPUs, check readme for “-di” option description for details.
added pool selection in runtime (“e” key).
a few minor improvements.


Reduce intensity ("-i" option) if miner is unstable or if you see bad speed.
It seems there is no way to get full speed on latest drivers for Fiji cards, at least in Windows. So don’t use latest drivers for Fury, use 15.12 or 16.3.2, or use “-asm 0” for them if you use newer drivers.


MEGA: https://mega.nz/#F!wcAlUYRa!Ekhsk5i_owaFbq91mCOlcg

This version is for pools.

Catalyst (Crimson) 15.12 is required for best performance and compatibility. 15.12 does not support some Fiji cards, use 16.3.2 for them. For 4xx cards (Polaris) Crimson 16.12.2 is recommended. NOTE: For best performance on Fiji cards you must use 15.12 or 16.3.2 drivers. For newest drivers speed will be slower! You can get bad results for non-recommended drivers, or miner can fail on startup. Set the following environment variables, especially if you have 1-2GB cards:


For multi-GPU systems, set Virtual Memory size in Windows at least 16 GB: “Computer Properties / Advanced System Settings / Performance / Advanced / Virtual Memory”.

This miner is free-to-use, however, current developer fee is 2% if you use secure SSL/TLS connection to mining pool, every hour the miner mines for 72 seconds for developer. If you use unsecure connection to mining pool, current developer fee is 2.5%, every hour the miner mines for 90 seconds for developer. If you don’t agree with the dev fee - don’t use this miner, or use “-nofee” option. Attempts to cheat and remove dev fee will cause a bit slower mining speed (same as “-nofee 1”) though miner will show same hashrate. Miner cannot just stop if cheat is detected because creators of cheats would know that the cheat does not work and they would find new tricks. If miner does not show any errors or slowdowns, they are happy.

This version is for recent AMD videocards only: 7xxx, 2xx, 3xx and 4xx, 1GB or more.

There are builds for Windows x64 and Linux x64. No 32-bit support. No NVidia support.


-zpool ZCash pool address. Only Stratum protocol is supported. Miner also supports SSL/TLS encryption for all data between miner and pool (if pool supports encryption), it significantly improves security. To enable encryption, use “ssl://” or “stratum+ssl://” prefix (or “tls” instead of “ssl”), for example: “-zpool ssl://asia1-zcash flypool org:3443”

-zwal Your ZCash wallet address. Also worker name and other options if pool supports it. Pools that require “Login.Worker” instead of wallet address are not supported directly currently, but you can use “-allpools 1” option to mine there.

-zpsw Password for ZCash pool, use “x” as password.


You can use “config.txt” file instead of specifying options in command line. If there are not any command line options, miner will check “config.txt” file for options. If there is only one option in the command line, it must be configuration file name. If there are two or more options in the command line, miner will take all options from the command line, not from configuration file. Place one option per line, if first character of a line is “;” or “#”, this line will be ignored. You can also use environment variables in “epools.txt” and “config.txt” files. For example, define “WORKER” environment variable and use it as “%WORKER%” in config.txt or in epools.txt.


flypool SSL/TLS connection: ZecMiner64.exe -zpool ssl://eu1-zcash flypool org:3443 -zwal t1U7fJqYzmQyVNB2AyGthJJTrFgtVDhbXmB.YourWorkerName -zpsw x

suprnova SSL/TLS connection: ZecMiner64.exe -zpool ssl://zec suprnova cc:2242 -zwal YourLogin.YourWorkerName -zpsw YourWorkerPassword

miningpoolhub SSL/TLS connection (this pool detects encryption automatically so it uses same port as for unencrypted connection): ZecMiner64.exe -zpool ssl://us-east equihash-hub

coinmine SSL/TLS connection: ZecMiner64.exe -zpool ssl://zec coinmine pl:7017 -zwal YourLogin.YourWorkerName -zpsw YourWorkerPassword

flypool (unencrypted connection): ZecMiner64.exe -zpool eu1-zcash flypool org:3333 -zwal t1U7fJqYzmQyVNB2AyGthJJTrFgtVDhbXmB.YourWorkerName -zpsw x

nanopool (unencrypted connection): ZecMiner64.exe -zpool zec-eu1 nanopool org:6666 -zwal t1U7fJqYzmQyVNB2AyGthJJTrFgtVDhbXmB.YourWorkerName -zpsw x

miningpoolhub (unencrypted connection) ZecMiner64.exe -zpool us-east.equihash-hub miningpoolhub com:20570 -zwal YourLogin.YourWorkerName -zpsw YourWorkerPassword

nicehash (unencrypted connection): ZecMiner64.exe -zpool equihash usa nicehash com:3357 -zwal 13PHHqne7e7W9G6aUqNVcFfkMoPADWkySZ -zpsw x

suprnova (unencrypted connection): ZecMiner64.exe -zpool zec suprnova cc:2142 -zwal YourLogin.YourWorkerName -zpsw YourWorkerPassword

coinmine (unencrypted connection): ZecMiner64.exe -zpool zec coinmine pl:7007 -zwal YourLogin.YourWorkerName -zpsw YourWorkerPassword


Miner supports remote monitoring/management via JSON protocol over raw TCP/IP sockets. You can also get recent console text lines via HTTP. Start “EthMan.exe” from “Remote management” subfolder (Windows version only). Check built-in help for more information. “API.txt” file contains more details about protocol.


Windows 10 Defender recognizes miner as a virus, some antiviruses do the same. Miner is not a virus, add it to Defender exceptions. I write miners since 2014. Most of them are recognized as viruses by some paranoid antiviruses, perhaps because I pack my miners to protect them from disassembling, perhaps because some people include them into their botnets, or perhaps these antiviruses are not good, I don’t know. For these years, a lot of people used my miners and nobody confirmed that my miner stole anything or did something bad. Note that I can guarantee clean binaries only for official links in my posts on this forum (Not allowed other forum name). If you downloaded miner from some other link - it really can be a virus. However, my miners are closed-source so I cannot prove that they are not viruses. If you think that I write viruses instead of good miners - do not use this miner, or at least use it on systems without any valuable data.


Install Catalyst v15.12.
Disable overclocking.
Reduce intensity ("-i" option).
Set environment variables as described above.
Set Virtual Memory 16 GB or more.
Try “-old 1” option.
Reboot computer.
Check hardware, risers.


Q: Why do I see more shares for devfee than in my mining for the same time? A: Most pools support variable diff, they change “target share” after some time after connection. For example, you have very powerful rig, after connection you will send shares very often. It takes some CPU time to check your shares so after some time pool will send higher share target and miner will send less shares (but they will have more value). When pool updates share target you will see “Pool sets new share target” line in the miner. This way pool can adjust the number of shares that miner sends and balance its load. So check the log or console text to see current target for main mining thread and for devfee thread. For example: DevFee: Pool sets new share target: 0x0083126e (diff: 500H) - this is for devfee mining connection Pool sets new share target: 0x0024fa4f (diff: 1772H) - this is for main mining connection As you can see, target share for main mining is higher in about 3.5 times, so for main mining miner sends in 3 times less shares (but they have 3x more value) than for devfee mining.

Q: Can I mix Polaris cards (RX 4xx/5xx) and Fury cards in same rig? A: You will not get best speed for Polaris and Fury cards mixed in one rig in Windows. Possible solutions:

Split Polaris and Fury GPUs to different rigs.
Use Linux.
Use “-asm 0” option for Fury cards (leave “asm 1” for Polaris cards) though they will have less speed in this mode.
PhoenixMiner is the fastest (perhaps the fastest) Etash (ETH, ETC, Muiscoin, EXP, UBQ, etc.), which supports
Both on AMD cards, and on Nvidia (including on farms). It runs under Windows x64
and Fees only 0.65% (the lowest% compared to analogues).
You can download PhoenixMiner 4.1 from here:
Supports AMD Vega, 580/570/480/470, 460/560, Fury, 390/290 and older AMD GPUs with enough VRAM
Changes in version 4.1c (since 4.0b):
Added faster “turbo” kernels (-clkernel 3) for AMD 470/480/570/580 GPUs. These are usually faster than normal kernels (-clkernel 1 or -clkernel 2) but require double the amount of VRAM. This means that you can only use them on 8 GB cards if mining ETH or ETC. You can use them on cards with 4 GB or less VRAM only if you are mining low DAG epoch coins.
Added Blake2s dual mining kernels, and green kernels for AMD Fury GPUs
Added Blake2s dual mining kernels for AMD 280/285/290/380/390 GPUs
New faster kernels for AMD 280/290/390 GPUs
Added alternative kernels (-clkernel 2) for AMD 280 GPUs
Added options -pauseat and -resumeat for scheduled pausing and resuming of the miner. Example: -resumeat 22:00 -pauseat 6:00 - the miner will mine only between 22:00 and 6:00. Example 2: -resumeat 22:00,12:00 -pauseat 6:00,16:00 - you can specify multiple pause and resume times.
(Windows only) The miner now prevents the computer from sleeping if the mining is not paused, and wakes the computer when it must resume mining at the time specified with -resumeat command-line option. In combination with -pauseat and -resumeat options this allows you to mine only when the electricity rates are lower and to keep your rig(s) asleep the rest of the time.
When the miner is paused for more than a few minutes, the pool is disconnected. The pool connection is restored when the mining is resumed.
Added a watchdog protection against freezing of the network connection thread
Automatic selection of compatible devfee coin if there isn’t enough VRAM to mine ETH and the main coin can’t be recognized or isn’t supported for devfee
Automatic switch to the next pool if the cards VRAM is not enough for the requited DAG epoch. This is especially useful if the pool is auto-switching the coins but your cards only support lower DAG epoch coins.
Added a -rvram option to set the minimal reserved VRAM that can’t be used for mining. The default values are 384 MB on Windows, and 128 MB on Linux. You can also set -rvram -1 if you want to turn off the protection against using too much VRAM.
Added command-line option -vs to just print the version (e.g. 4.1c) and exit
Added command-line option -wdtimeout to set the timeout of the watchdog timer. The valid values are from 30 to 300 seconds, the default is 45 seconds.
Added support for Windows AMD drivers 18.12.x and 19.1.1
Other small improvements and fixes
Supports Nvidia 10x0 and 9x0, as well as older maps with enough VRAM
Highly optimized OpenCL and CUDA cores for maximum production speed
The lowest development fee is 0.65% (35 seconds yields production for every 90 minutes)
Advanced statistics: the actual complexity of each stock, as well as an effective hash-hat in the pool
Generate DAG files in the GPU for faster startup and DAG epoxy switches
Supports all pools in the etash mining area and stratum protocols
Support for secure connections to the pool (for example, ssl: //eu1.ethermine.org 1: 5555) to prevent attacks using IP attacks
Detailed statistics, including individual hash hash cards, shares, temperature and fan speed
Unlimited number of failover pools in the epools.txt configuration file (or two on the command line)
Configure the GPU for AMD GPUs to achieve maximum performance with your installation
Support for devfee in alternative floor currencies, such as ETC, EXP, Music, UBQ, Pirl, Ellaism and Metaverse ETP. This allows you to use old cards with little VRAM or low hashing in current DAG epochs (for example, GTX970).
Full compatibility with the industry standard Claymore Dual Ethereum, including most command line parameters,
configuration files and remote monitoring and management.
Profitable to mine ETH, yields capacities by 10% more than similar miners
Additional features coming soon!
auto: Try to determine from the pool address (default)
eth: Ethereum
etc: Ethereum Classic
exp: Expanse
music: Musicoin
ubq: UBIQ
pirl: Pirl
ella: Ellaism
etp: Metaverse ETP
pgc: Pegascoin
akroma: Akroma
whale: WhaleCoin
vic: Victorium
nuko: Nekonium
mix: Mix
egem: EtherGem
aura: Aura
hbc: Hotelbyte Coin
gen: Genom
etz: EtherZero
clo: Callisto
dbix: DubaiCoin
moac: MOAC
etho: Ether-1
etcc: EtherCC
Examples of settings for different pools.
ethermine org (ETH):
PhoenixMiner.exe -pool eu1.ethermine org:4444 -pool2 us1 ethermine org:4444 -wal YourEthWalletAddress.WorkerName -proto 3
ethermine org (ETH, secure connection):
PhoenixMiner.exe -pool ssl: //eu1.ethermine org: 5555 -pool2 ssl: //us1 ethermine org: 5555 -wal YourEthWalletAddress.WorkerName -proto 3
ethpool org (ETH):
PhoenixMiner.exe -pool eu1 ethpool org:3333 -pool2 us1 ethpool org:3333 -wal YourEthWalletAddress.WorkerName -proto 3
dwarfpool com (ETH):
PhoenixMiner.exe -pool eth-eu dwarfpool com:8008 -wal YourEthWalletAddress / WorkerName -pass x
nanopool org (ETH):
PhoenixMiner.exe -pool eu1.nanopool org:9999 -wal YourEthWalletAddress / WorkerName -pass x
nicehash (ethash):
PhoenixMiner.exe -pool stratum + tcp: //daggerhashimoto eu nicehash com: 3353 -wal YourBtcWalletAddress -pass x -proto 4 -stales 0
f2pool (ETH):
PhoenixMiner.exe -epool eth f2pool com:8008 -ewal YourEthWalletAddress -pass x -worker WorkerName
miningpoolhub (ETH):
PhoenixMiner.exe -pool us-east ethash-hub miningpoolhub com:20535 -wal YourLoginName.WorkerName -pass x -proto 1
coinotron com (ETH):
PhoenixMiner.exe -pool coinotron com:3344 -wal YourLoginName.WorkerName -pass x -proto 1
ethermine org (ETC):
PhoenixMiner.exe -pool eu1-etc ethermine org:4444 -wal YourEtcWalletAddress.WorkerName
dwarfpool com (EXP):
PhoenixMiner.exe -pool exp-eu.dwarfpool com:8018 -wal YourExpWalletAddress / WorkerName
miningpoolhub (MUSIC):
PhoenixMiner.exe -pool europe ethash-hub miningpoolhub com:20585 -wal YourLoginName.WorkerName -pass x -proto 1
ubiqpool (UBIQ):
PhoenixMiner.exe -pool stratum + tcp: //eu ubiqpool io: 8008 -wal YourUbiqWalletAddress -pass x -worker WorkerName
minerpool net (PIRL):
PhoenixMiner.exe -pool pirl minerpool net:8002 -wal YourPirlWalletAddress -pass x -worker WorkerName
dodopool com (Metaverse ETP):
PhoenixMiner.exe -pool etp dodopool com:8008 -wal YourMetaverseETPWalletAddress -worker Rig1 -pass x
minerpool net (Ellaism):
PhoenixMiner.exe -pool ella minerpool net:8002 -wal YourEllaismWalletAddress -worker Rig1 -pass x
News / Trump Wall Talks Reach ‘Tentative’ Agreement
« Last post by BlackJack on February 12, 2019, 06:31:58 PM »
Trump Wall Talks Reach ‘Tentative’ Agreement – Still Not Enough to Avoid Another US Govt Shutdown?

Just when we thought Congressional leaders were incapable of compromise in order to avoid another government shut down, they surprise us. They announced late Monday that an agreement over border funding had been reached.

Calling it “an agreement in principle”, the tentative agreement provides for about  $1.3 billion for physical barriers along the border. Not only does the agreement not call the security system a wall, as President Trump has deemed it, but the amount is far shy of the $5.7 billion officials stress is needed.

Trump talked about the agreement during his El Paso, Texas rally Monday evening.


NBC News posted this tweet about the agreement.


In an impromptu press conference was held Monday night. During it, Sen. Richard Shelby, R-Ala., the chairman of the Senate Appropriations Committee, said he hoped the agreement would be to the satisfaction of the president. Shelby said a final text could be released by Wednesday.

More than 800,000 U.S. government workers and government contractors have worried about being furloughed again as lawmakers wrangle over funding a wall along the U.S.-Mexico border.

You’d think that the elected officials had learned something from the domino effects of the last partial shutdown, which only ended about three weeks ago. That shutdown lasted 35 days, which was the longest in U.S. history.

It seems many have not learned much.  Bipartisan talks broke down over the weekend when Democrats suggested they’d give about $1.6 billion for the wall if reductions were made at immigration detention centers along the border. That was a new demand and it sent Republicans packing.

The bipartisan talks broke down over the weekend when Congressional Democrats conceded to allowing for some of the $5.7 billion Trump wants for the wall, but the concession came with a catch. A catch that was out-of-the-blue.

Democrats want a reduction in the number of beds at immigration detention centers. These centers are manned by U.S. Immigration and Customs Enforcement, which many Democrats want to be abolished.

Trump weighed in on this via Twitter.


This weekend, stunned Republicans walked away from that ICE idea. Senator Lindsay Graham called the reduction idea “nuts.”

“The idea that reducing bed spaces available for violent offenders so they can be held and deported as a trade off for the wall [provides incentives for] illegal immigration. [Democrats] truly have lost their way. President Trump is not going to reduce the number of bed spaces available to hold violent offenders who come across our border. He can’t do that, he won’t do that.”

The bed cap is no longer an issue.  NBC News reported late Monday that there was:

No cap on the number of beds for enforcing immigration laws in the country’s interior.

Democrats have been steadfast in calling for immigration protections. This includes Deferred Action for Childhood Arrivals, or DACA recipients. In January, President Trump provided offered three-year extended protections for these people.

Trump proposed including immigrants with Temporary Protected Status. Democrats didn’t budge.

Mick Mulvaney, acting White House Chief of Staff, said this weekend:

“We’ll take as much money as you can give us and we’ll often find the money someplace else, legally, in order to secure that Southern barrier. But this is going to get built, with or without Congress.”

Source: https://www.ccn.com/trump-wall-talks-reach-tentative-agreement-still-not-enough-to-avoid-another-us-govt-shutdown
News / Indians Lost $2.3 Billion in Remittance Payments in 2018
« Last post by BlackJack on February 12, 2019, 06:10:11 PM »
According to The Times of India, money transfers cost citizens and non-residents over $2.3 billion in fees last year for clearing payments into India, the world’s biggest market for inward remittance.

Nischal Shetty, the CEO of local Bitcoin exchange WazirX, said that the dominant cryptocurrency could bring down remittance costs to near zero.


In 2018, the global average fee for processing remittance payments was 7 percent. The percentage-based fee amounted to a hefty sum of money for expat employees sending money to their families back in India.

Often, in major remittance markets such as India, China, and the Philippines, it is difficult to process payments through banks and large-scale financial institutions.

Even if the sender of the payment has a bank account, if the receiver of the payment–typically a family member of the sender in a different country–does not have a bank account, the sender has to rely on local remittance outlets and networks to process the payment.

In the Philippines, for instance, millions of workers rely on remittance outlets and microfinancing companies like Lhuiller and Palawan to send and receive payments.

There are tens of thousands of physical locations of remittance outlets in the Philippines at which receivers can cash in and receive payments with low fees.

Whether it is India, China or the Philippines, when the payments are cross-border transactions and are no longer domestic, percentage-based fees are often charged to the receiver.

Due to a relatively high number of individuals in India and the Philippines working abroad as expat workers, the amount of money coming into the local remittance markets exceeds domestic remittances.

The problem is that in most cases, expat workers send money back to India to financially support their families and every portion of the income is crucial for the livelihood of millions of households.

The large transaction fees decrease the amount of money that is obtained by the receiver in India. The Times of India reported that as a consequence, the poorer population of the country are most heavily affected by the fees.

The report read:

In India’s case, most remittances come from the Middle East, where millions of migrants work as labor. But, transaction fees eat into their earnings.

The main transfer methods are through banks, money transfer operators or post offices. But with any method, a sizeable chunk of the money transferred is deducted by the transferring body.

For domestic remittances, local remittance outlets or money transfer operators can be substantially cheaper and faster. For small payments at least, there are fixed small fees that could easily compete against the transaction fee of Bitcoin payments or of any other major cryptocurrency.

However, for large payments or international transactions, the Bitcoin blockchain network could easily process cross-border transactions at a fraction of the costs involved with traditional remittance methods.

The advantage of Bitcoin over existing financial systems is that the fees of transactions on the Bitcoin network are not percentage-based.

In November 2018, CCN reported that Binance, the world’s largest cryptocurrency exchange, processed $600 million for less than $7.


In contrast, based on the average 7 percent transaction fee in remittance payments, it would cost $7 to process $100 through conventional remittance service providers.

Bitcoin will likely not be implemented by remittance providers. But, there are companies Rebit and Coins.ph in Southeast Asia that utilize cryptocurrencies to clear remittance payments.

If Bitcoin can be used to transfer money from one region to another and a domestic remittance service provider is used to bring the money to the receiver at the final phase, it could save a significant chunk of the income received by expat workers.

Source: https://www.ccn.com/indians-lost-2-3-billion-in-fees-in-2018-bitcoin-cost-zero
Altcoins Discussion / Re: safe investment using crypto? How do you do it?
« Last post by bamzmeca on February 07, 2019, 01:02:25 PM »
storing assets in crypto, it requires sufficient understanding, if it only follows other people it won't last long, if a dump occurs.
if we understand crypto, it will always be in any situation.
and for security, it's better to keep assets in a private walllet
News / Bitcoin-Friendly Cash App is Now 2nd Most Popular Apple Application
« Last post by BlackJack on February 04, 2019, 02:47:41 PM »
Within a decade since its launch in 2009, Twitter CEO Jack Dorsey’s fintech company Square has transformed into a $29 billion digital payments giant and the go-to platform for users to send and receive money and buy Bitcoin.

On February 3, Dorsey revealed that Square Cash (also known as Cash App), one of the most widely utilized mobile payment applications in the U.S. market, became the 2nd most popular free mobile application on the Apple App Store.


Like any fast-growing startup, it targeted a niche market in merchants without access to point-of-sale (PoS) terminals and credit card payments.

Previously, it was reportedly illegal for non-registered merchants to accept credit card payments and it was difficult for small businesses to obtain access to financial services.

After its successful start as a merchant-focused payment processor, the company expanded to peer-to-peer mobile payments, releasing Square Cash.

Although some analysts claim that the Bitcoin integration of Square Cash has been overplayed by the media, it has played a vital role in attracting new generation and millennial users.

In November 2017, when Square Cash initially enabled users to buy Bitcoin on the mobile app, the company was valued at $16 billion.

Fast forward 13 months, even after the correction of the U.S. market in late 2018, the firm is valued at $29 billion, $13 billion higher than in 2017.

Square Cash’s core business model relies on its mobile payment application that allows users to send and receive payments instantly with low costs.

But, the integration of Bitcoin by the company strengthened the image of the platform as a forward-looking and innovative mobile application.

Earlier this week, on the Joe Rogan Podcast, Twitter and Square CEO Jack Dorsey said that while he does not know whether Bitcoin will definitively become the currency of the internet, he believes it could be Bitcoin given its performance to date.

Dorsey said:

“I believe the Internet will have a native currency and I don’t know if it’s Bitcoin. I think it will be [Bitcoin] given all the tests it has been through and the principles behind it, how it was created. It was something that was born on the Internet, was developed on the Internet, was tested on the Internet, [and] it is of the Internet.”

In previous interviews, Jack Dorsey stated that Bitcoin has the potential to become the world’s single currency in ten years, projecting optimism towards its long-term growth.



Wall Street analysts foresee Square performing strongly throughout the years to come with the company’s focus on innovation.

Its most recent product, the Square Card, a Mastercard for merchants, has been  described as “genius” as it allows merchants to withdraw or use funds as soon as they arrive through the app.

In consideration of the reception of the new product, Citigroup analyst Peter Christiansen told Barron’s that new products would continue to help the company move forward and experience rapid growth.

“[New products]such as Debit Card for Business and Installments, as well as continued cash app/card growth and overall ecosystem expansion help to mitigate the anticipated deceleration in mid-2019,” Christiansen said.

On January 3, the digital payments giant hired Amrita Ahuja as the company’s new chief financial officer, a former CFO of Blizzard Entertainment, to assist the company in building and scaling.

“Amrita brings the ability to consider and balance opportunities across our entire business, and she will help strengthen our discipline as we invest, build, and scale,” Dorsey said at the time.

As the company strengthens its dominance in the merchant and mobile payments sector, analysts expect the firm to continue seeing growth in multiple areas of the business, including its Bitcoin venture and the newly released debit card.

Source: https://www.ccn.com/jack-dorsey-bitcoin-cash-app-2nd-popular-apple-app
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